The benchmark 30 year loan deals are on the books at 4.375% at Chase Bank (NYSE:JPM) yielding an APR of 4.471%. The shorter term, popular 15 year FRM interest rates are listed at 3.625% yielding an APR of 3.753%.
ARM loans in the 5 year category at Chase Bank can be had for 3.375% and an APR of 3.036%. 7 year ARMs are published at 3.500% currently with a starting APR of 3.187%.
30 year refinance loans stand at 4.375% at Chase Bank and APR of 4.471%. The shorter term 15 year refi fixed rate loans are listed at 3.500% today with an APR of 3.609%. The 5 year refinance ARM loans have been published at 3.250% at Chase Bank. with a starting APR of 2.992%. ARMs in the 7 year refi category are being quoted at 3.500% yielding an APR of 3.166% to start.
Published rates are often driven by specific securities related to mortgages which are traded in the stock market. Wall street weakend by the end of trading today putting the DJAI at 15,337.70 a decrease of -113.35.
Mortgage rates at Chase Bank tracked with the DJIA direction. Drilling down a bit, Chase Bank’s own stock price moved higher to 53.66 up +0.37.